FDI growth in nation slows amid debt crisis
By Wang Yanlin |
October 20, 2011, Thursday
|
Print Edition
Print Edition
FOREIGN direct investment in China rose 7.88 percent from a year earlier to US$9 billion in September, cooling further amid the deteriorating debt crisis in the United States and the eurozone.
The pace last month eased from 11.1 percent in August and 19.8 percent in July, the Ministry of Commerce said yesterday.
"Investors around the world are increasingly wary of new investment amid uncertainties in the global economy, and China's new FDI mainly comes from countries in Asia, rather than from the Europe and the US as before," said Shen Danyang, a spokesman at the ministry.
According to the ministry data, investment from the US shed 9.88 percent from a year earlier in the first three quarters, while the 27-country European Union cut its investment to China by 1.8 percent, reversing a long streak of continued growth.
In comparison, capital input from Asian countries jumped 23.66 percent year on year between January and September, far exceeding China's overall FDI rate of 16.6 percent in that time.
Xu Weihong, an analyst at Guodu Securities Co, said the worsening crisis in some developed countries may offer China new opportunities to solidify its position as a good destination for foreign investment.
"The temporary slowdown in foreign investment need not cause overreaction because it is natural when the gloomy global economic outlook prevails," Xu said. "But China should take the opportunity to prove itself a good choice for investors. Thus when the markets recover, it will gain an advantage to win more investment."
Commerce Minister Chen Deming said last month that China's foreign investment environment will stay competitive in the longer term because of good infrastructure and rich labor resources, although the country is facing new challenges like higher labor costs.
Chen said China will continue to improve its investment environment, including assuring equal treatment for foreign companies and expanding areas that allow foreign investment.
Last month, foreign direct investment in Shanghai jumped 27.1 percent to US$2.1 billion, boosted by the services sector including finance, logistics and creation industry, according to the Shanghai Statistics Bureau.
Meanwhile, China's non-financial outbound foreign direct investment increased 12.5 percent year on year to US$40.7 billion in the first three quarters, keeping a steady expansion.
In May, Linde Group in central China's Henan Province acquired Parchim Airport in Germany, becoming the first Chinese company to acquire the permanent operating rights to an airport in Europe, the ministry said.
The pace last month eased from 11.1 percent in August and 19.8 percent in July, the Ministry of Commerce said yesterday.
"Investors around the world are increasingly wary of new investment amid uncertainties in the global economy, and China's new FDI mainly comes from countries in Asia, rather than from the Europe and the US as before," said Shen Danyang, a spokesman at the ministry.
According to the ministry data, investment from the US shed 9.88 percent from a year earlier in the first three quarters, while the 27-country European Union cut its investment to China by 1.8 percent, reversing a long streak of continued growth.
In comparison, capital input from Asian countries jumped 23.66 percent year on year between January and September, far exceeding China's overall FDI rate of 16.6 percent in that time.
Xu Weihong, an analyst at Guodu Securities Co, said the worsening crisis in some developed countries may offer China new opportunities to solidify its position as a good destination for foreign investment.
"The temporary slowdown in foreign investment need not cause overreaction because it is natural when the gloomy global economic outlook prevails," Xu said. "But China should take the opportunity to prove itself a good choice for investors. Thus when the markets recover, it will gain an advantage to win more investment."
Commerce Minister Chen Deming said last month that China's foreign investment environment will stay competitive in the longer term because of good infrastructure and rich labor resources, although the country is facing new challenges like higher labor costs.
Chen said China will continue to improve its investment environment, including assuring equal treatment for foreign companies and expanding areas that allow foreign investment.
Last month, foreign direct investment in Shanghai jumped 27.1 percent to US$2.1 billion, boosted by the services sector including finance, logistics and creation industry, according to the Shanghai Statistics Bureau.
Meanwhile, China's non-financial outbound foreign direct investment increased 12.5 percent year on year to US$40.7 billion in the first three quarters, keeping a steady expansion.
In May, Linde Group in central China's Henan Province acquired Parchim Airport in Germany, becoming the first Chinese company to acquire the permanent operating rights to an airport in Europe, the ministry said.
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